9-1910. Surrender control to commissioner. Upon the affirmative vote of 2/3 of the outstanding voting stock, the shareholders of a bank or trust company may transfer all of the bank's or trust company's assets and property of whatever nature and any rights thereto to the possession and control of the commissioner and waive any right to the Kansas administrative procedure act, the Kansas judicial review act or any other lawful right to challenge the commissioner's authority without the execution of any instruments of assignment, endorsement, transfer or conveyance. Such action shall operate as a bar to any attachment proceedings.
History: L. 1947, ch. 102, § 118; L. 2015, ch. 38, § 125; L. 2016, ch. 54, § 58; July 1.
Structure Kansas Statutes
Chapter 9 - Banks And Banking; Trust Companies
Article 19 - Banking Code; Dissolution; Insolvency
9-1902 Definition of insolvency.
9-1902a Critical undercapitalization.
9-1903 Undercapitalized and insolvent banks and trust companies; commissioner to take charge, when.
9-1905 Receiver for insolvent and undercapitalized bank or trust company.
9-1906 Receiver to take charge of assets; order of payment.
9-1907 Powers of federal deposit insurance corporation or its successor.
9-1908 Title to all assets to vest in insurance corporation.
9-1909 Claims to be filed within one year.
9-1910 Surrender control to commissioner.
9-1911 Receiver may borrow money.
9-1915 Deposits or debts while insolvent; liability.
9-1916 Same; action to enforce liability; evidence.
9-1918 Escheat and disposition of certain property in custody of commissioner; escheat.